I am not feeling so good. I haven't laid a golden egg in days. It's probably because my savior fell from grace. More proof that the higher they rise, the harder they fall.
The CEO before last was really smart. So smart that he thinks he can run the numbers and beat the odds in any gamble. I am sure he thought handing the reins over to a party planner from the Oprah show, a child from Duke, and a card team that can sell (but spend more than they sell... right out of business) was a good gamble. It really felt good when he would brush his employees and compliment them and treat them like prize horses but in the end, when he found out he was not the heir apparent, he went insane and nearly spent me into oblivion.
Sounds like I am talking about Sokol? Nope. Santulli. Sokol is another bird. He was a bully. A raving bully. But a very astute planner and excellent business man, and he was my bully. All sports analogy but no sportsmanship. He really did get things done. Now he found out he wasn't the chosen one and HE too went insane. Interestingly enough, no NetJets leader in the history of the company has had more in common with the president of the NetJets Association of Shared Aircraft Pilots, Mark Luthi.
Let's see what traits they have in common, at least according to their critics:
1. Stubborn - Check
2. Bully - Check
3. People and organizations refuse to do business with them - Check
4. Bend the facts so as to deceive - Check
5. The ends justify the means - Check
6. Regularly send unsolicited material to Berkshire Hathaway - Check
You know, they both have something in common with someone else we all know.
But they are NOT winning, duh! Mark has been unable to produce real results, other than those given to him, since the day Bill Olsen stopped changing his diaper. Luthi has repeatedly violated confidentiality rules and engaged in bad faith behavior to the point of it being routine. He proudly announced that he has cancelled his confidentiality agreements with NetJets and has declared he feels free to communicate with whomever he wants, whenever he wants, regarding NetJets or any other matter. Why? So he can disclose that another fleet is leaving and cause disarray in the contract renewal process? So he can take information and spin it grossly out of context to the media or the board or anyone who will listen to him in a pathetic attempt to engage in industrial action and try to get something, anything done for once - other than interfere with productive volunteers on almost every committee?
I am not laying any more golden eggs. It's totally obvious. With the scrutiny that Sokol is under Berkshire Hathaway will have to investigate every business that Sokol was involved in and justify to the shareholders why that company is a sound investment. I am a low margin bird and everyone knows it. Charter is still cheap cheap cheap and I have one HONKING bill for my services. Pretend to be a Berkshire board member and look at NetJets:
- Business model sustainable? Undetermined
- Consistently makes money? No
- Orders on the books? >$14B
- Debt? >$1B
- Assets? $2.5B
- Customer base (in flight hours)? Shrinking
- Customer base (numerically)? Increasing
- Irrational, unsubstantiated rhetoric from unions? Steady
- Union organizing? Increasing (funded by Pilot Union)
- Unions acting as business partners? None
- Unions with business skill or understanding? None
- Damage to brand from winning activity of former chairman and union president? Totally
No. It's probably too late. The people within the union who knew how to act in good faith and apply interest bargaining are all gone, and the pilots are really fat (nice crew food), dumb ("My Lupee speaks and thinks for me"), and happy (I just show up and fly - look at my nice contract - I got everything I wanted for four whole years - then we went bust).
So be happy, because you're
DUH, WINNING!
Honk-a-Honk Honk
QSG
